Utah County commissioners Monday agreed to waive the penalties and interest on unpaid property taxes on Academy Square to help the new owners preserve the historic building.

Betty Harrison, representing the Community Service Foundation, told commissioners that the organization would pay the taxes owed by the property's previous owner for the years 1986, 1987 and 1989 if the penalties were waived.Commissioners said they were hesitant to grant the waiver because relief would go to a previous owner, not the foundation. However, saying it would be the county's contribution to the project, commissioners agreed to waive about $12,000 in penalties and interest, leaving a balance of about $31,000.

Harrison said the organization plans to petition for tax-exempt status before next year's taxes are due.